A team of employees from both credit unions will explore naming and brand strategies for the institution. No employees are expected to lose their jobs as a result of the merger.
“As part of a larger organization, all employees will have the benefit of more professional development opportunities to advance their own careers,” said Kathleen Romane, president and CEO of Lacamas Community Credit Union. “This is a tremendous opportunity for them to enhance their skills and growth potential.”
A combined new board will conduct a search for a CEO to lead the larger institution, as Michaelis and Romane both plan to retire later this year.
Lacamas Community Credit Union has more than 17,000 members, six locations and assets of over $195 million. iQ Credit Union operates nine locations in Southwest Washington, has 50,000 members and more than $500 million in assets. The combined new institution will have 15 branches approximately 240 employees.
